What Is a Credit File in Australia? Everything You Need to Know

Quick Answer: A credit file in Australia is a detailed record of your credit history held by the three credit bureaus — Equifax, Experian, and Illion. It contains your personal information, all credit accounts and repayment history, credit enquiries, defaults, court judgements, and any bankruptcy or insolvency arrangements. Lenders use it to assess your creditworthiness. Under the Privacy Act 1988, you can access your file for free and challenge any inaccurate or unlawfully listed entries.

Your credit file is one of the most financially significant documents about you. It affects whether you can get a home loan, a car loan, or a phone plan. It can influence rental applications and employment screening. Yet most Australians have never read it.

This guide explains exactly what a credit file is, what's in it, who can see it, and what your rights are over its contents.

Credit File vs Credit Score: What's the Difference?

These two terms are often used interchangeably, but they're different things.

Your credit score is derived from your credit file — it's a calculated summary. Lenders often look at both: the score as a quick filter, and the file for detail on what's behind the score.

What's in Your Australian Credit File

Under Comprehensive Credit Reporting (CCR), your credit file in Australia now contains significantly more information than it did before 2018. The key sections are:

1. Personal Information Your full name, date of birth, current and previous addresses, employer, and driver's licence number if you've provided it. Errors here can cause cross-contamination with another person's file — worth checking carefully.

2. Credit Accounts and Repayment History All credit accounts opened in your name — credit cards, home loans, car loans, personal loans — including the lender, account type, credit limit, and 24 months of monthly repayment history (on-time, 30 days late, 60 days late, etc.).

3. Credit Enquiries Every formal credit application in the past 5 years, showing the lender name, date, and type of credit applied for. This is the section that shows if you've had a cluster of applications in a short period.

4. Defaults Formal listings of unpaid debts of $150 or more, including the creditor name, amount, listing date, and current status (unpaid/paid). These are the most damaging entries on most files.

5. Court Judgements Formal debt enforcement through the courts — these appear as judgements and carry significant weight with lenders.

6. Serious Credit Infringements Rare but severe listings for intentional avoidance of a debt or fraud. These stay for 7 years.

7. Bankruptcy and Insolvency Formal insolvency arrangements including bankruptcy, Part IX Debt Agreements, and Part X Personal Insolvency Agreements.

Who Can See Your Credit File?

Under the Privacy Act 1988, access to your credit file without your knowledge or consent is prohibited. Any organisation that accesses your file must have a legitimate reason and, in most cases, must have your consent. Unauthorised access is a breach of the Act.

Real Case Study: Diana, Hobart — Found Three Errors in a Single File Review

Diana, 51, a school principal from Hobart, had never checked her credit file until her bank flagged a concern when she applied to increase her home loan limit. She requested her Equifax report and found three problems: a $390 default from a previous landlord — a bond dispute she'd won at VCAT four years earlier; an address listed from 2009 that had her confused with another person in her building; and a credit enquiry from a lender she'd never applied to.

She contacted ACS. In her assessment we identified: the VCAT ruling against the landlord meant the underlying debt didn't exist — listing a default on a successfully disputed claim was a Privacy Act 1988 accuracy breach. The mystery enquiry was traced to a broker who'd submitted her details to a lender without individual consent — a Credit Reporting Code breach.

We challenged both the default and the unauthorised enquiry. The incorrect address was corrected directly with the bureau.

Result: The default was removed in 28 days. The enquiry was removed in 19 days. The address correction happened within a week. Diana's Equifax score moved from 531 to 719 — a 188-point improvement. Her home loan limit increase was approved the following month. She only paid when we succeeded. Subject to individual assessment; results may vary.

Your Rights Over Your Credit File

Under the Privacy Act 1988, you have specific rights:

1. Right to access — free annual report from each bureau; additional free reports after credit declinal or corrections
2. Right to correction — challenge any entry you believe is inaccurate, incomplete, or unlawfully listed
3. Right to know who accessed your file — you can request a list of recent accesses from the bureau
4. Right to opt out of pre-screening — you can restrict certain marketing uses of your data
5. Right to make a complaint — to the bureau, the credit provider, or AFCA at afca.org.au if disputes are unresolved

These rights exist to protect you. They're also the legal foundation that makes professional credit repair possible — every challenge ACS lodges is grounded in the rights the Privacy Act grants you.

How to Access Your Credit File for Free

Request your free credit report from each bureau once per year:

• Equifax — equifax.com.au
• Experian — experian.com.au
• Illion — creditreport.com.au

You're entitled to additional free reports within 90 days of a credit application being declined, or if you have reason to believe errors exist. Checking your own file is a soft enquiry and has no impact on your score. For a full step-by-step guide, see how to get your free credit report.

Frequently Asked Questions

What is the difference between a credit file and a credit report in Australia? They refer to the same thing. "Credit file" and "credit report" are used interchangeably in Australia — both describe the detailed record of your credit history held by the bureaus (Equifax, Experian, Illion). A credit score is a separate summary number calculated from the information in your credit file.

How long do entries stay on an Australian credit file? Defaults stay 5 years, court judgements 5 years, serious credit infringements 7 years, bankruptcy 5–7 years depending on timing, hard enquiries 5 years, and CCR repayment history rolls on a 24-month cycle. Positive repayment history also appears for 24 months — it's not just negative data since CCR was introduced in 2018.

Can I see who has accessed my credit file in Australia? Yes — your credit report includes a list of recent hard enquiries (credit applications), showing which lenders accessed your file and when. You can also request a more detailed access history directly from each bureau. If you see an enquiry you don't recognise, you have the right to challenge it under the Privacy Act 1988.

Can information be on my credit file without my knowledge? Yes — defaults, judgements, and other negative entries can be listed without you necessarily being aware of them, particularly if notices were sent to outdated addresses. This is why checking your file regularly matters. Any entry that was listed without following the required process under the Privacy Act 1988 can be challenged.

How often is a credit file updated in Australia? Credit files are updated as information is reported by lenders and credit providers. Under CCR, most lenders report repayment data monthly. New enquiries, defaults, and other events are typically reflected within days of being reported. Removing a negative entry is also reflected quickly — usually within a few days of the bureau processing the removal.

Get a Free Review of Your Credit File Today

Most Australians have never seen their credit file — and a surprising proportion of those who have found something that shouldn't be there. A free assessment from ACS reviews your full file and identifies anything that can be challenged under the Privacy Act 1988.

Australian Credit Solutions is ASIC-licensed (ACL 532003), lawyer-led by Principal Solicitor Elisa Rothschild, and has helped over 5,000 Australians clean up their credit files since 2014. No Win No Fee. 98% success rate on accepted cases.

Get My Free Assessment → 📞 0489 265 737 🛡️ ASIC Licensed ACL 532003 | ⭐ 4.9/5 from 976+ Reviews | 🏆 Award Winner 2022–2024

Australian Credit Solutions Pty Ltd holds Australian Credit Licence ACL 532003. Credit repair services are subject to individual assessment. Results may vary. This article provides general information only and does not constitute legal or financial advice.

Related reading: How to Get Your Free Credit Report → | What Is a Credit Score → | Default Removal Services →